Houses4Homes is looking to list the UK’s first care home REIT with a target of £2bn to invest in the sector.
The REIT, called Operation Rose, will target an initial capital raise of £50m when it lists on the London Stock Exchange’s AIM this year.
The company will then seek to invest in “extra care” housing for the elderly after it registers as a social landlord. If the capital raising is successful, the company will focus on acquiring schemes of 60-400 flats.
House4Homes chief executive Phil Shanks said the company would seek to have a second raise of £500m at some point in the future, and then ultimately target £2bn in equity.
At present, House4Homes is a £20m investor in specialist homes for adults with learning difficulties.
The company planned to list in 2015 but has withdrawn for ethical reasons and uncertainty that sufficient stock existed in its sector to satisfy shareholder demands.
